AGN: Allergan Stock Soars on Ackman, Valeant Takeover News

Both companies saw their stock go up more than 3% Monday

Investor Will Ackman is behind a potential deal that could unite Allergan (AGN) and Valeant (VRX).

Ackman is pushing to merge the two medium-sized pharmaceuticals in a deal that would be worth around $42 billion. If a deal goes through, the combined company would have Valeant’s skin care portfolio and Allergan’s eye care products.

Allergan made a reported $6.3 billion in sales last year while Valeant reported $5.8 billion in revenue last year. The first company is run by CEO David Pyott who helped bring Botox into the mainstream.

News of a potential merger between Allergen and Valeant has seen both companies’ stock boom on Monday. AGN stock is up 6.03% while VRX stock is up 3.24% at closing.